The Future of Consumerist

Over the last twelve years, Consumerist has been a steadfast proponent and voice on behalf of consumers, from exposing shady practices by secretive cable companies to pushing for action against dodgy payday lenders. Now, we’re joining forces with Consumer Reports, our parent organization, to cultivate the next generation of consumer advocacy.

Stay tuned as Consumerist’s current and future content finds its home as a part of the Consumer Reports brand. In the meantime, you can access existing Consumerist content below, and we encourage you to visit Consumer Reports to read the latest consumer news.

An industry source tells ABC News that the executives expect to hear from the White House that “the industry is unpopular right now.” The source forecasts that the meeting will be “a carrot-and-stick” deal — the administration will tell the executives that they need their help in dealing with problems such as high interest rates, but they will emphasize the threat of legislation.

“It will be a come-to-Jesus type of meeting,” the source said.

Lenders are saying that any crackdown on current practices will lead to two Very Bad Things: a restriction in the number of credit offers, and an overall bump back up to higher interest rates. Somehow we think threatening to reduce the level of credit card debt in the nation won’t exactly strike fear in hearts of consumers. As for higher interest rates, it’s all the more reason to not carry a balance, right?